Given the ongoing crisis, we have created this page to help you navigate the new and complex landscape and various new government reliefs. We have included guides and templates which can assist you in this difficult period and will be updating this page with any news or developments as they happen.
We have also provided advice and guidance through our client webinars where we discuss all legal and accounting advise and impacts and will continue to do so as required. Below you can find details of any upcoming webinars and access links to the videos and all information included on our previous sessions.
If you are feeling a little confused in this world of uncertainty and over information. Here are the top ten things to focus on:
Don’t spend it! Delay everything you can.
The Government is allowing delays on PAYE, VAT, pretty much everything if you ask them. Take it and save your cash. This is for two years; you need a panic fund at all points. Remember to document why you are holding the cash so as not to become an investment company (ask your accountant).
Unfortunately there are some groups without govt support. Most notably Dividend Directors, and the start up community.
Thankfully something has now been announced for the start up community.Click here for more info
Also there is a movement to increase the attractiveness of EIS and SEIS relief for investors which you may like to support.Sign the petition
The Government has developed Coronavirus related support packages tool that helps businesses try to determine what support they might be eligible for.View here
If you are seeking to raise money for your business, through private or venture investment - we believe the only current practical solution is to use an ASA – an Advanced Subscription Agreement.
It allows you to raise money now, for a future promise at equity – at a pre agreed, and often discounted price. You do not have to set a valuation (crucial in the current crisis), and crucially it is compatible with EIS/SEIS relief – almost essential if you want to raise private finance in the UK.
We have enclosed here a template guide to assist you in that manner. With all the obvious caveats. Please feel free to use it, please get advice. And obviously we cannot be held responsible for anything that might happen with this template – unless you get advice from us. We just provide this to help as best we can.Download ASA template
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